Personal Insurance Blog

EFT: What Is It?

Understand how to pay your home auto personal and commercial monthly insurance payments with the EFT and Andrew Gordon IncEFT (Electronic Funds Transfer) is a safe, easy and convenient way to pay your monthly insurance premiums. No checks to write, no stamps to buy and no trips to the post office.  And – no finance charges!  Payments can be spread out over twelve months (down payment plus eleven installments).

How can I start EFT?

All you need to do is complete a short form to authorize the automatic deduction of your monthly payments from your bank account and attach a voided check or savings deposit slip from the account you wish to use.

How will I know about payments?

Your insurance carrier will send you a schedule of payments detailing the amounts and the dates they will be deducted from your bank account.

What if my insurance policy changes?

If you make changes to your policy, a new payment schedule will be sent to you with the revised amount of your deductions.

And there you have it, safe, easy and convenient!

Check out our website for more insurance resources and informational whiteboard videos.

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